Bank accnt 1080.00 overdrawn!!!

ok - first thing you need to do is stop panicking - bad descisions are made when we are panicking.

go open a new bank account with as little as 25.00 at another bank. change any direct deposits you have to this new account.

go into your old bank. tell them you want to stop ALL electronic transactions - deposits and all.This is legal and they should do it...Be firm. yuo aren't trying to close the account, just stop all ACH and electronic trnasactions

go from there...be calm - none of this is life threatening....keep it in perspective

One little trick I have learned is that if you can't get your bank to work with you, contact the Department of Finance in your state that regulates the banks and they will help. I know I had to have their help with our tax return this year. Our bank started taking 10% of the refunds and Todd told me that they can't do this without posting and thank god for camera phones because we took picutres of the bank to show there were no posting and he helped us get our 10% of our refund back within two days.

It would be better if you consult a lawyer to discuss on this topic. VLD can definitely shed some light here.

As per my take, ask your counselor to negotiate with the lenders and insist them stop hitting your account. I do think that this is illegal to collect money from your account since you are paying them through your consolidation company. They should compensate for this.

I was just stating that if the bank won't help rkai93, there are other options.

what bank are you working with? i had the same problem with my bank initially but then my bank account went into negative and i told them i want to make it deposit only and not have any withdrawals go through so that i can bring it back up in the positives. Its worth a try.

I agree with Stanley, you should consult with an attorney. You financial institution should have closed the account (changed account numbers) per your request. They usually will ask you what checks/debits you have pending that you still want to go through. Now it appears your stuck, and won't have money to pay the consolidation company.

Also call your consolidation company and ask what they think should be done. They may also tell you to place a complaint with the Department of Finance.

Please keep us informed on this, and what is being done about it.

Regards-
Mike

I can't understand these banks that won't try to help you.
What are they trying to accomplish? I went to mine today and there was no problem freezing my account to withdrawals.
I guess it just depends on the institution. That's terrible, I would definately contact an attorney...Listen to the people here, they give fantastic advice.

tammy....i'm kinda past the point of no return with my bank, though I did send a big letter to them last week claiming they had neglected to provide me with proper assistance and information. now i'm trying to give other people here the information i got too late....bes tyou can do is help others...

Washington mutual was my bank...they are the worst..thieves that kep racking up the fees without telling me there was anothe way to go to get out of the mess.

anyone had any experience with Bank of America...are they flexible/cooperative?

people seem to have mixed reactions...they are my new bank and I LOVE them so far...they are friendly, helpful and their website is bar none the best banking website I've seen

Bank of america is also my new bank. they seem real nice, but i havent dealt with them for payday loan issues so not really sure how they are with that.

Regulation E states that if you revoke the ACH privileges from any financial institution that has ACH privileges to your account you can have the charges reverse if you notify your financial within 60 days of the transaction. The quicker the better. The reason banks have trouble with ACH transactions, which is one of the fastest growing areas of banking and fraud, is that not all banks are technological equal in this area. For example, one of my banks can individually block ACH's but it can't do a total stop, meaning stop all ACH transactions. My other bank can individually, total stop, or stop ACH transactions based on the amount of the transactions. Basically, it depends on the type of stop payment software the financial institution is using. I hope this information has been helpful.

i just want to thank all of you for your support...without you guys id be lost!

I think my OD fees are up to like 1350.00....???? I just dont know what to do! I opened a new accnt but this accnt is going to go to collections and thats the last thing I need!

Yes! khrisangel, by all mean report fraud on this! I am so sorry for you and I can't believe this cruelty this agency is committing upon you!

I have had problems with our credit union about this as well. After three requests they finally stopped all debits, but as soon as the acct was positive again they paid a paper check for a PDL. Paid it as an overdraft, so they could charge me $25. The CU rep was really nasty when she called to complain about my husband's direct deposit not posting to the acct. She said they only paid the check because they (the CU) knew that direct deposit would be posting the next day. What part of don't pay any is hard to understand?
She also said she would contact my husband's command (he is active duty military) if we don't get the negative balance cleared ASAP. *sigh*

This is what I have been telling people all along. At the very first sign of trouble, and you being in here with this group is a pretty good indicator, you should close your account, and get all your legit bills on the new account. Once you take the PDL companies ability to directly remove funds from you, you take thei power away, and you are in control of the situation, not them.

Credit Unions are indeed a pain to deal with. But its all in WHO you talk to, they can help if they want to. I was continually being told that I would have to qualify for a new account, which I knew I wouldn't until finally I talked to a nice young lady last week - because of the way some of the companies (namingly one - Sonic) had been changing the draft amount by a penny - they considered it fraud and simply closed the account and opened a new one without me having to re-qualify....just stay persistent and prayerfully you will talk to the right person.